LIC Investment Scheme: In today’s world, everyone wants their future and their family’s future to be secure. When it comes to investing hard-earned money safely, people still trust the Life Insurance Corporation of India (LIC). Among many investment options, LIC’s Jeevan Anand policy is special for those who want the benefits of both savings and insurance at a low premium. This is not just a policy, but a long-term security shield.
A Large Fund Can Be Created with Small Savings
Often, people hesitate to take out insurance, thinking that the premium will be too high. But the Jeevan Anand policy is designed keeping the common man’s budget in mind. If you are 35 years old and take a sum assured of Rs 5 lakh, you will have to pay an annual premium of approximately Rs 16,300 for a period of 35 years.
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This amounts to approximately Rs 1,400 per month. That is, savings of about Rs 45 to 46 per day. By regularly depositing this small amount, you can receive a large sum upon policy maturity. According to current bonus rates, the total amount at maturity can be up to approximately Rs 25 lakh. This includes the sum assured along with the bonus. In this way, a strong fund for the future is created with small savings.
Lifelong Safety Provided
The biggest feature of this LIC policy is that the insurance coverage does not end even after maturity. Usually, the insurance cover ends after the policy term is completed, but this is not the case with Jeevan Anand.
Even after receiving the maturity amount, the policyholder continues to receive a life cover of Rs 5 lakh for life. This means that even if the person dies many years after maturity, their family or nominee will receive Rs 5 lakh. In this way, this policy provides support during life and also ensures the security of the family after life.
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Tax Relief is Also Available
The Jeevan Anand policy also helps with tax savings. The premiums paid are eligible for a deduction under Section 80C of the Income Tax Act. Furthermore, the maturity amount and death benefit are tax-free under Section 10(10D).
In addition, a loan can be taken against the policy after two years, making this investment a useful option in times of need. People aged 18 to 50 years can purchase this policy and can also add riders for accident or critical illness coverage for added protection.